In January, 1998, the three affiliates that formed PDVSA for more than 20 years, Lagoven, Maraven and Corpoven, merged. The main goal was to create company with a unified goal to generate the highest revenues. Consequently, three divisions were formed PDVSA Exploration and Production, PDVSA Manufacture and Marketing, and PDVSA Services. Currently, Venezuela has proven reserves of 78 billion barrels of Crude and 148 trillion cubic feet of Gas. This puts it as the country with the largest hydrocarbon reserves in the Western Hemisphere, and positions it as the 5th country in the world in proven reserves. With the Orinoco Belt reserves, the country possesses the largest accumulation of liquid fuel on the planet.PDVSA has a production capacity of 4 million barrels per day (BPD); actually its production exceeds 3 million BPD and 8.81 billion standard cubic feet/day of gas. Also, PDVSA is among the leading corporations in the refining business, with a petroleum processing capacity of 3,285,000 BPD (1,285,000 BPD in Venezuela and 2 million kasdsakasasdmasfmadslkadsglkgadlkngagags